Exports: Corn sales see slight uptick, soybeans plummet again

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According to the USDA’s Weekly Export Sales report, corn net sales of 618,900 metric tons (MT) for 2013-2014 were up 15 percent from the previous week, but down 30 percent from the four-week average. 

Increases were reported for South Korea (185,000 MT, including 115,000 MT switched from China and 60,000 MT switched from unknown destinations), Japan (168,900 MT, including 101,400 MT switched from unknown destinations and decreases of 5,200 MT), Colombia (133,400 MT, including 154,000 MT switched from unknown destinations and decreases of 17,200 MT), Saudi Arabia (115,000 MT, including 103,400 MT switched from unknown destinations), Egypt (91,600 MT, including 76,600 MT switched from unknown destinations), and Peru (52,600 MT, including 30,000 MT switched from Uruguay). 

Decreases were reported for unknown destinations (215,900 MT), China (54,000 MT), and Uruguay (30,000 MT).  Corn net sales of 382,900 MT for 2014-2015 were reported for Mexico (240,000 MT), Japan (91,400 MT), and unknown destinations (89,400 MT).  Decreases were reported for Costa Rica (37,900 MT).  Exports of 1,621,100 MT were up 55 percent from the previous week and 33 percent from the prior 4-week average.  The primary destinations were Japan (243,300 MT), Colombia (231,000 MT), Egypt (224,600 MT), Taiwan (205,100 MT), South Korea (183,500 MT), Mexico (170,300 MT), and Saudi Arabia (117,000 MT). 

Doane Advisory Services shows corn futures build on recent gains overnight. May corn rose 2.25 cents to $5.0575/bushel early Thursday morning, while December inched up 2.25 to $5.0675.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 618,937 601,880 17,057
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 872,791 1,091,667 950,314
High 1,518,009 4,555,497 1,837,865
Low 601,880 154,543 155,262
 
 
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The report also showed soybean net sales of 800 MT for 2013-2014, a marketing-year low, were down 96 percent from the previous week and 98 percent from the prior 4-week average. 

 Increases reported for Canada (29,800 MT), Mexico (9,900 MT), Indonesia (5,200 MT), Barbados (3,500 MT), Japan (3,400 MT), Taiwan (2,400 MT), and Vietnam (1,700 MT), were partially offset by decreases for China (55,000 MT).  Net sales of 118,200 MT for 2014/2015 were primarily for unknown destinations (59,000 MT) and China (55,500 MT). 

Exports of 182,200 MT were down 46 percent from the previous week and 70 percent from the prior 4-week average.  The primary destinations were Mexico (61,900 MT), Indonesia (42,900 MT), Japan (28,000 MT), Taiwan (17,600 MT), Colombia (17,400 MT), and Canada (7,500 MT).

The soy complex moved lower in early Thursday trading. May soybeans dipped 0.25 cent to $14.6825/bushel as Thursday dawned over Chicago, while May soyoil sank 0.16 cents to 42.34 cents/pound, but May soymeal edged up $1.4 to $479.5/ton.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 782 19,229 -18,447
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 167,968 687,298 280,347
High 772,736 4,742,012 772,736
Low 782 782 782
 
 
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